Comment Nothing Special (Score 1) 135
At least not in my opinion. My buddy did the same thing when we were in high school about 6 or 7 years ago. Booted up in Linux, copied the SAM file over, cracked it at home. Did it a few times until we found one that the administrator account had logged into. He was never caught until the end of the year because we decided to pull a prank and change the standard wallpaper for all the student accounts to this http://img689.imageshack.us/img689/7629/gib.png.
He was caught because as it turns out, the system was setup to capture screenshots of anyone logged in every 10 seconds, combined with the fact that he signed in to the library to use the computer, they were able to catch him. I don't think they ever found out about changing some grades, but I'm not sure about that.